Medical Flexible Packaging Market Size, Share & Trends Analysis Report By Material (Plastic, Paper, Aluminum, Bioplastics), By Product, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Medical Flexible Packaging Market Size, Share & Trends Analysis Report By Material (Plastic, Paper, Aluminum, Bioplastics), By Product, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Medical Flexible Packaging Market Growth & Trends

The global medical flexible packaging market size is expected to reach USD 27.72 billion by 2030, expanding at 5.4% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The increased prevalence of chronic diseases, technological advancements, increase in individual therapy, and growing awareness regarding metabolism among the population are some of the major factors driving the demand for drug-delivery devices.

Growing efforts toward formulating dosage forms to maximize the bioavailability of the drug at the target site while increasing the convenience of patients remain key to market growth. The introduction of novel drug delivery systems, such as sub-dermal implants, which are available in different forms like rings and patches is expected to aid the demand for drug delivery devices.

Asia Pacific dominated the medical flexible packaging industry in 2022, backed by growing demand from China and India. The growing healthcare industry in these countries coupled with rising per capita healthcare expenditures are expected to have a positive impact on market growth. The growing generics manufacturing and contract manufacturing facilities are also expected to have a positive impact on market demand for these products.

Medical device manufacturing is the fastest and largest end-use segment in the U.S. The presence of a large number of medical device manufacturers is driving the demand for these products. Implant demand has witnessed significant growth due to growing health problems among the population. The growth in implant manufacturing is expected to have a positive impact on the demand for flexible medical packaging products.The presence of major players such as Amcor and Bemis is expected to further boost market growth over the forecast period. The demand in the region is driven by countries such as the United States and Mexico.

Medical Flexible Packaging Market Report Highlights

• The plastics segment led the market with the largest revenue share of over 73.0% in 2023 owing to the presence of a wide variety of options from this material and their ability to provide high tensile strength than their metal counterparts
• The pouches & bags segment is expected to witness significant growth over the forecast period. The development of barrier packaging and other specialized forms is expected to further boost the demand for these products
• Asia Pacific region is expected to witness the fastest growth over the forecast period. The growing population, rising purchasing power, and increased health awareness among the Chinese are boosting the packaging business rapidly
• The market for medical flexible packaging represents a competitive landscape with key players sharing the market space. Some of the key competitive strategies taken by the key players include expansion of product portfolio, mergers & acquisitions, and product innovation

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